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INCOME TAXES | 12 Months Ended
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Dec. 31, 2021
INCOME TAXES |
INCOME TAXES | 11. INCOME TAXES Significant components of the provision for income taxes are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
​ | ​ | 2021 |  | 2020
Current: | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | $ | 8,443 | ​ | $ | 8,885
State | ​ | ​ | 1,280 | ​ | ​ | 1,737
Total current income tax provision | ​ | ​ | 9,723 | ​ | ​ | 10,622
Deferred: | ​ | ​ | ​ | ​ | ​ | ​
Federal | ​ | ​ | 934 | ​ | ​ | 189
State | ​ | ​ | 99 | ​ | ​ | 16
Total deferred income tax provision | ​ | ​ | 1,033 | ​ | ​ | 205
Provision for income taxes | ​ | $ | 10,756 | ​ | $ | 10,827
​ A reconciliation of the Company’s effective tax rate from operations to the U.S. federal income tax rate is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended | ​
​ | ​ | December 31, | ​
​ | ​ | 2021 |  | 2020 | ​
Federal statutory rate | ​ | 21.0 | % | ​ | 21.0 | %
State income taxes, net of federal tax benefit | ​ | 1.9 | ​ | ​ | 2.8 | ​
Energy efficiency credit | ​ | (5.2) | ​ | ​ | (2.3) | ​
Other | ​ | - | ​ | ​ | 0.7 | ​
Effective tax rate | ​ | 17.7 | % | ​ | 22.2 | %
​ The tax effects of cumulative temporary differences that give rise to deferred tax assets and liabilities are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
​ | ​ | 2021 |  | 2020
Deferred tax assets: | ​ | ​ | ​ | ​ | ​ | ​
Allowance for doubtful accounts | ​ | $ | 486 | ​ | $ | 599
Reserve accounts | ​ | ​ | 636 | ​ | ​ | 134
State taxes | ​ | ​ | 44 | ​ | ​ | 263
Payroll taxes | ​ | ​ | 157 | ​ | ​ | 297
Uniform capitalization | ​ | ​ | 58 | ​ | ​ | 45
Total deferred tax assets | ​ | ​ | 1,381 | ​ | ​ | 1,338
Deferred tax liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Installment sale revenue | ​ | ​ | (853) | ​ | ​ | (1,006)
Depreciation | ​ | ​ | (2,998) | ​ | ​ | (1,740)
Accrued interest receivable | ​ | ​ | (518) | ​ | ​ | (526)
Other | ​ | ​ | (16) | ​ | ​ | (37)
Total deferred tax liabilities | ​ | ​ | (4,385) | ​ | ​ | (3,309)
Net deferred tax liabilities | ​ | $ | (3,004) | ​ | $ | (1,971)
​

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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